What would you do with 13k - Jeep Wrangler Forum
Jeep Wrangler Forum

Go Back   Jeep Wrangler Forum > JK Jeep Wrangler Forum > JK General Discussion Forum

Join Wrangler Forum Today


Reply
 
Thread Tools

Please support our sponsors and let them know you heard about them on WranglerForum.com
Old 12-13-2013, 07:05 PM   #1
Jeeper
 
PissAnt's Avatar
 
Join Date: Apr 2013
Posts: 228
What would you do with 13k

Little back story...
I am leaving my job at Intel and pursing a career with the Air Force. I will be leaving for BMT on 25 February at which point on return I will have $12,668.85 for Jeeping and $3,500 to help with relocation (married). My total income will be $3,133.27 per month including all incentives. This has to cover housing, utilities, food, vehicles, etc... Thankfully my wife will be working most of time (if possible) and plans to cover her bills ($265 per month for her Jeep Grand Cherokee).

Current Rig
09 Sahara Unlimited
3.8L Auto with 65k miles
Armor - Front Bumper, Rock Sliders, and Rear Bumper
Suspension - 3.5 Metalcloak Game Changer Lite (minus rear control arms)
Axles - Factory Dana 30 / Dana 44
Drive Shafts - Tatton front and factory rear
Tires - 35 Nitto Trail Grapplers (90% tread remaining)
Recovery - Warn M8000 and Warn Snatch Block

I would love to keep this vehicle but I fear the payment will be to high at $520 per month (rate is 3.49%). The payment is high because I rolled several thousand of negative equity into it from my Nissan Titan. My only option of keeping this Jeep is put about $4,000 down lowering the payment to $322 (6yrs | 5% int | 4k down). After those steps are made I would have roughly $900 per month extra.
Budget to modify is $5608.85 (only have $9608.85 due to making payments while gone)
$900 per month after bills paid

Pros
I already have it and modified it
Best ride quality and handling
Ample storage space and four doors

Possible Cons
High payment
Wheelbase is long for break over angle (if I keep it 5.5 LA and 37s in future)

Option Two
Since I have gotten used to the luxury ride, comfort, and room of the JK Unlimited the next best thing would be the TJ Unlimited (LJ). I can pick one up in my area in completely unmolested stock condition for about $14,000 private party (non Rubicon). If I took a loan out for the entire purchase price it would end up running about $226 per month (6yrs | 5% int | 0 down). If I were to add about $4,000 down I could have the same payment amount but instead a fancy Rubicon model (they run $18,000 locally).
Budget to modify is $12,668.85 or $8,668.85 on a Rubicon
$997 per month after bills paid

Pros
Perfect wheel base
Second best handling and ride quality compared to JK Unlimited
Storage room
Not as common as other Jeeps

Possible Cons
Payments
Newer drive train means its more complicated for the do it yourself mechanic

Option Three

Could always go a little older and pickup a early model TJ in stock condition for around $6,000 cash. I would not be able to get a loan on this Jeep due to age and the simple fact that its cheap enough to buy outright.
Budget to modify is $6,668.85
$1,222 per month after bills paid

Pros
I own it cash
Since I own it cash I have the ability to buy a second daily driver

Possible Cons
Shorter wheelbase will not ride as well
Less interior room compared to JK Unlimited or TJ Unlimited


Option Four
The last option would be to pound on my chest, drink black coffee, brush my teeth with a steel brush, and drive around in a YJ. Cannot really beat the price at about $3,500 for a 4.2L carburetor I6 with automatic transmission.
Budget to modify is $9,168.85
$1,222 per month after bills paid

Pros
I own it cash
Since I own it cash I have the ability to buy a second daily driver
Super simple drive train compared to other models

Possible Cons
Shorter wheelbase will not ride as well
Less interior room compared to JK Unlimited or TJ Unlimited
Carburetor fuel delivery
Poor air conditioning (must have it equipped)
May be less reliable due to age
Poor ride quality (leafs vs coils)

In short, I love my JK Unlimited but am afraid a cheaper vehicle may be best. The JKu costs more to insure, register, repair, etc... What do you guys think?

Thanks for any help!

__________________
United States Air Force
Aerospace Propulsion F15 & F16
2005 Jeep Wrangler TJ Unlimited Rubicon
PissAnt is offline   Quote Quick Reply
Old 12-13-2013, 07:06 PM   #2
Jeeper
 
PissAnt's Avatar
 
Join Date: Apr 2013
Posts: 228



__________________
United States Air Force
Aerospace Propulsion F15 & F16
2005 Jeep Wrangler TJ Unlimited Rubicon
PissAnt is offline   Quote Quick Reply
Old 12-13-2013, 07:11 PM   #3
G54
another brick in the wall

WF Supporting Member
 
G54's Avatar
 
Join Date: Jan 2008
Location: NEO
Posts: 16,107
Images: 5
If it were me I'd keep the JK and Id use that money toward paying it off asap and be out of debt. I hate debt and wont do anything expensive to my JK until its payed for.
G54 is offline   Quote Quick Reply
Old 12-13-2013, 07:17 PM   #4
Jeeper

WF Supporting Member
 
InvictusDecretum's Avatar
 
Join Date: Jul 2013
Location: Hurlburt Field
Posts: 701
Images: 1
After you grad basic, look into refinancing it with usaa. But I agree with the above... Pay it off with that money. Or pay a significant part down, instead of buying something else. If you have any left overs, wouldn't hurt to have some savings. Speaking from experience, with all this budget b******t, there could be some times where you miss a paycheck. Hasn't happened yet, but it gets worse and worse each time.

I'm biased, but I vote the LJ if we have to pick one of those options.
__________________
'05 Unlimited Rubicon Sahara #268 of 1000
"This baby’s pulse is pumping 4.0 liters of uncensored raw fuel through her straight six nuclear power plant."
My Build Thread: http://www.wranglerforum.com/f322/in...ml#post6709282
InvictusDecretum is offline   Quote Quick Reply
Old 12-13-2013, 07:18 PM   #5
Jeeper
 
Join Date: Jul 2013
Posts: 472
Quote:
Originally Posted by gus54 View Post
If it were me I'd keep the JK and Id use that money toward paying it off asap and be out of debt. I hate debt and wont do anything expensive to my JK until its payed for.
X2. Pay the jeep with the extra money and don't worry about mods until after. Not sure why you would refi to a higher rate on it...
peanut09 is offline   Quote Quick Reply
Old 12-13-2013, 07:20 PM   #6
Jeeper
 
Join Date: Jan 2011
Location: Eastern Iowa
Posts: 927
Yup, only real choice is to pay all of the money down on the loan. If the payment still remains then sell it and buy something for cash. That's not a lot of income once you apply living costs against it. How much do you plan to sock away to savings each month toward your long term goals?
Silverton34 is offline   Quote Quick Reply
Old 12-13-2013, 08:16 PM   #7
Jeeper
 
PissAnt's Avatar
 
Join Date: Apr 2013
Posts: 228
Quote:
Originally Posted by gus54 View Post
If it were me I'd keep the JK and Id use that money toward paying it off asap and be out of debt. I hate debt and wont do anything expensive to my JK until its payed for.
Agreed, I hate debt also. Only thing is having a Jeep in the drive way that is not really "built" sucks. Paying high dollars for a toy I cannot use for the next five or so years. I would rather pay a little more for five or so years and have a Jeep that is "built" and able to be enjoyed. But again I really do hate debt... Why did I have to leave my cushy job?

Quote:
Originally Posted by InvictusDecretum View Post
After you grad basic, look into refinancing it with usaa. But I agree with the above... Pay it off with that money. Or pay a significant part down, instead of buying something else. If you have any left overs, wouldn't hurt to have some savings. Speaking from experience, with all this budget b******t, there could be some times where you miss a paycheck. Hasn't happened yet, but it gets worse and worse each time.

I'm biased, but I vote the LJ if we have to pick one of those options.
Yes, the current budget cuts could get scary in the future for military personnel. I really like the idea of the LJ also. The loan and payment are much smaller while still leaving me enough money for a build and life.

Quote:
Originally Posted by peanut09 View Post
X2. Pay the jeep with the extra money and don't worry about mods until after. Not sure why you would refi to a higher rate on it...
I would be refinancing to a higher rate as I don't think I would get offered 3.49% again. When I get that rate it was with 35k miles and at a dealership. If I could get that low rate again then I would just be surprised with a lower payment (prepare for the worst).


Quote:
Originally Posted by Silverton34 View Post
Yup, only real choice is to pay all of the money down on the loan. If the payment still remains then sell it and buy something for cash. That's not a lot of income once you apply living costs against it. How much do you plan to sock away to savings each month toward your long term goals?
Even after paying all of that money down a payment would remain unfortunately. I could sell the Jeep at that point and pickup a YJ or TJ and still have a reasonable amount of money left over to start a build. Best thing is with no payment I would have plenty of extra money to build as finances allowed.

I agree with you completely that a savings account must be started immediately for unforeseen events and retirement. I plan to always save twenty percent of my base pay automatically and not touch it. If I remain an E2 for my first year of enlistment then I would have saved roughly $3,468. If I remain an E2 for twenty years (no way in hell this would happen / not even possible) the savings would be $69,360 (I expect actual amount to be closer to $110,000).
__________________
United States Air Force
Aerospace Propulsion F15 & F16
2005 Jeep Wrangler TJ Unlimited Rubicon
PissAnt is offline   Quote Quick Reply
Old 12-13-2013, 08:41 PM   #8
Jeeper
 
Nuke83's Avatar
 
Join Date: Apr 2013
Location: NW of Atlanta
Posts: 734
There is an option 5. Having been in the military many years ago, this may be the best of all possible options.

Sell your JK now. Bank all the equity (if there is any from the JK, unlikely since you're still paying for your Titan rolled into the loan) and the $13k. Head off to basic without a set of wheels.

When you get out, buy a used, reliable and cheap vehicle (spend maybe $5k-$6k of what you banked) for cash and pay in full. Don't worry about a Jeep for the immediate future. You're likely to transfer around a bit while you work your way through schools, and may even get stationed overseas.

In the meantime, continue to pack away as much cash as you can into savings. Wait for the opportunity when one of your fellow airmen is short on cash, over his head with payments, knocks up his girlfriend, gets transferred overseas, etc., etc., and has to part with his beloved Jeep FAST for cash. You're likely be be able to snatch a great deal and still come out ahead of options 1-4 above. You'll position yourself in a leverage position and be able to take advantage of the marketplace.

Pros - You rid yourself of any stress or uncertainty of what you can afford with your new income. You'll be debt free. You'll have reliable and economic transportation without stress. You may end up with a great Jeep at a great price in the future.

Con - You'll be without a Jeep for a little while.

Just a suggestion. Delay the immediate gratification and risk for a longer term, balanced solution.

If not option 5, then pay down all the debt you can. Also, jump on board with USAA (as was suggested by Invictus). You'll save on insurance and get great finance rates. I've been with them for over 25 years and they've been awesome. My sons now have their checking accounts with them as well. When I purchased my last two vehicles, I went in with my sight draft with pre-approved financing. Both times I told the dealer what I had and both times they worked to find better rates. Definitely helps to have options.
Nuke83 is offline   Quote Quick Reply
Old 12-13-2013, 08:47 PM   #9
Jeeper
 
Freedom JK's Avatar
 
Join Date: Oct 2013
Location: Baton Rouge, LA
Posts: 727
Quote:
Originally Posted by gus54 View Post
If it were me I'd keep the JK and Id use that money toward paying it off asap and be out of debt. I hate debt and wont do anything expensive to my JK until its payed for.
^^^^^What he said!
Freedom JK is offline   Quote Quick Reply
Old 12-13-2013, 10:32 PM   #10
Jeeper
 
PissAnt's Avatar
 
Join Date: Apr 2013
Posts: 228
I just discovered my transmission is blown. Yay!

Getting it swapped out with a friends help next week.
__________________
United States Air Force
Aerospace Propulsion F15 & F16
2005 Jeep Wrangler TJ Unlimited Rubicon
PissAnt is offline   Quote Quick Reply
Old 12-14-2013, 12:05 AM   #11
Jeeper
 
LemonLite's Avatar
 
Join Date: Nov 2012
Location: Fort Lewis, WA
Posts: 375
First off, thanks for your decision to serve the country. Secondly, I would also go the route of paying off the vehicle. The pay in the military isn't all that great, so if you're able to get the Jeep paid off then you'd be able to use some of your paychecks to continue to upgrade what you already have. Sucks making that monthly payment and trying to modify. Good luck in BMT and remember, every night you go to bed, you're one day closer to graduation.
LemonLite is offline   Quote Quick Reply
Old 12-14-2013, 12:32 AM   #12
Jeeper
 
doufus1's Avatar
 
Join Date: Oct 2012
Location: Kalgoorlie
Posts: 254
$13k and no one has said it. Get very drunk.
__________________
It's not a car. It's a Jeep
doufus1 is offline   Quote Quick Reply
Old 12-14-2013, 07:58 AM   #13
Jeeper
 
gecko4's Avatar
 
Join Date: Aug 2013
Location: ontario
Posts: 736
Forget about that carbureted YJ. Those things had a feedback carburetion system which was a POS, seemed to always idle poorly. The 4L injected system they went with in 1991 was light years ahead of that 4.2.
Having said that, your current ride, while sweet, is 5 model years old. I'd sell it, pay off any remaining debt, and do your bmt.
Don't buy one yet, but price out what the payments would be on a new rig. With discounted interest rates on new, I bet your payments would be more affordable than the current one, especially if you save up a decent down payment while doing basics.
gecko4 is offline   Quote Quick Reply
Old 12-14-2013, 08:34 AM   #14
Jeeper
 
Join Date: Jul 2011
Location: N/A
Posts: 136
Pay it off! Debt sucks! Borrower is slave to the lender :-)
hypobid is offline   Quote Quick Reply
Old 12-14-2013, 10:51 PM   #15
Jeeper
 
Join Date: Jul 2013
Posts: 15
First what do you owe on it now and what do you feel you could sell it for in your area. As some have said you never know where the AF is going to send you and if you go to Japan, England, or Korea then you will not be able to take it and will have to rush to sell it or have it sit for a long time. Also you seem very specific with your numbers where are you getting them from since you have no idea where you will be stationed. as a current AF member with a lot of time in if you would like some mentoring before you go shoot me a PM. there is ALOT going on with the force right now.
blackbetty80 is offline   Quote Quick Reply
Old 12-15-2013, 01:03 AM   #16
Jeeper
 
Lowerumble's Avatar
 
Join Date: Jun 2012
Posts: 2,000
Is stand pat an option? How long until you need it again? Could your wife drive the Jeep and sell the GC in the mean time? Just don't want to see you take a big hit on something you ultimately want and have spent alot of money and time on already. You won't recoup most of your mods and you already rolled some negative equity in it. I would keep that until it is payed off. But no reason to pay off 3.49% early if you have any other debt or might need it. So if you are also carrying any creditcard debt or the like at a higher interest rate then spend your money there. Also an auto loan in fixed, so anything you pay towards that isn't re-accessible in case of emergency.

Good look man.
__________________
2013 Unlimited Rubicon - 2.5 Metalcloak - Ripp Supercharger - And Alot of Armor
Lowerumble is offline   Quote Quick Reply
Old 12-15-2013, 08:16 AM   #17
Jeeper
 
avi8or's Avatar
 
Join Date: Nov 2013
Location: MO
Posts: 63
You sound like you are younger. I'd go for the older Jeep for a while. It's just a vehicle.
avi8or is offline   Quote Quick Reply
Old 12-15-2013, 08:35 AM   #18
Jeeper
 
Mikel01's Avatar
 
Join Date: Jun 2013
Location: St. Augustine Beach
Posts: 405
Images: 13
Send my Moab to AEV so they can finish what jeep started. Need only $4k to finish the jk350 conversion.
__________________
Moab with 33" Goodyear SAs, Warn Zeon. AEV bumpers, skid plate, suspension, tire carrier, hood, pintler wheels, water tanks, procal and mud flaps/cargo mat. Grill guard and KC Apollo Pro lights. Done for now.
Mikel01 is offline   Quote Quick Reply
Old 12-15-2013, 09:05 AM   #19
Jeeper
 
Txrdstr's Avatar
 
Join Date: Nov 2012
Posts: 837
Firs thing should do being married is quit worrying about what your jeep looks like and can do, you are only making 36k year and your first priority should be completely debt free and taking care of your family. Once you get to your duty station find and take Dave Ramsey's " Financial Peace University", most bases offer it as well as many churches. In mean time read Total money Makeover by Ramsey. Going from privat sector to military is a game changer, first few years you are gonna be BROKE.

Just read more, if saving 20% don't waste time in savings acct! put it in a good mutual fund with a 10 year average 10-12% return and at that in 40 years will be well over 2 mil just with what you plan on in the beginning. You will surely make more, invest more and have a hell of a retirement fund...
Txrdstr is offline   Quote Quick Reply
Old 12-15-2013, 09:23 AM   #20
Jeeper
 
jadmt's Avatar
 
Join Date: Sep 2012
Location: missoula
Posts: 6,510
X2 Txrdstr's advice.
jadmt is offline   Quote Quick Reply
Old 12-15-2013, 10:21 AM   #21
Jeeper
 
Strokerswild's Avatar
 
Join Date: Feb 2012
Location: MN
Posts: 1,366
X3....
__________________
Gone but not forgotten:
'98 TJ SE - '99 TJ Sahara - '12 JK Arctic
'13 JK Sahara...too many other toys...

I Jeep, therefore I am.
Strokerswild is offline   Quote Quick Reply
Old 12-15-2013, 10:33 AM   #22
G54
another brick in the wall

WF Supporting Member
 
G54's Avatar
 
Join Date: Jan 2008
Location: NEO
Posts: 16,107
Images: 5
X4 - best post so far. Dave Ramsey gives outstanding advice.
G54 is offline   Quote Quick Reply
Old 12-15-2013, 11:18 AM   #23
Jeeper
 
Get your jeep on's Avatar
 
Join Date: Jul 2013
Posts: 217
X5. Use all of the resources available to you, and work your way to debt-free as soon as possible. Modifications come easier when you are not a slave to a variety of monthly payments.
Get your jeep on is offline   Quote Quick Reply
Old 12-15-2013, 04:20 PM   #24
Jeeper
 
Osok's Avatar
 
Join Date: Oct 2013
Location: Huffman, TX
Posts: 59
X6 for Ramsey. But the investing advice I study is from Paul Merriman. Youtube search him and watch his 27 video series for free. He also writes for marketwatch. Retired investment advisor who how does it for free after selling the investment company he built from scratch to mulit-million dollar company. Company still uses his name.
__________________
2014 JKU, Flame Red
Osok is offline   Quote Quick Reply
Old 12-15-2013, 04:28 PM   #25
Jeeper
 
Paddlehands's Avatar
 
Join Date: Jan 2013
Posts: 23
Sell my 2 door and put it towards a JKU Rubicon!

Paddlehands is offline   Quote Quick Reply
Reply

Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Jeep Wrangler Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




Download our Mobile App

» Featured Product

All times are GMT -5. The time now is 12:23 AM.



Jeep®, Wrangler, Liberty, Wagoneer, Cherokee, and Grand Cherokee are copyrighted and trademarked to Chrysler Motors LLC.
Wranglerforum.com is not in any way associated with the Chrysler Motors LLC